Belarusian Economy: Statistical Outlook [19/06/2001]
Chubrik, A.
The paper analyses recent dynamics of the Belarusian economy, covering the period from 1995 to 2000. The analysis shows that Belarus has actually preserved most of the archetypal features of the ‘soviet-type economy’, where reforms are severely constrained by the nature of authoritarian political regime. Distortions in economic statistics reflect serious imbalances in macroeconomic policies conducted through this period. Price regulation and high inflation most substantially contribute to these distortions, while up to the year 2000 multiple exchange rate regime was a complementary source of statistical biases. It is argued that making simple changes at the methods of statistical calculations within the current practices of excessive state interventions would produce minor effects. What is needed is a comprehensive reorientation of economic policies towards market-based system, what would be reflected in statistics.
Exploring EU Eastward Enlargement Problematique: A Comprehensive Conceptual Review [18/06/2001]
Gaiduk, K.
This article reviews the main parameters constituting integration between the transition economies of East-Central Europe and the Baltic and the EU member states. Drawing upon a wide range of sources, it tries to acquire a decent degree of comprehensiveness by reconstructing the recent history, current state of affairs and trajectories of EU Eastward enlargement. By starting from the analysis of trade and investment practices, it comes up with fundamental questions of economic development, interpreted through the lenses of ‘catching-up growth’. The latter is explored in terms of technology diffusion and institutional capabilities of the applicant countries. The author’s contribution lies in the systematic and careful reconsideration of existing theoretical approaches to EU Eastward enlargement in order to present them critically and thoroughly to local audience.
Dispersion of Relative Prices Under Hyperinflation And State Regulation of Prices [17/06/2001]
Kovalev, A.
The paper provides an econometric analysis of the impact of inflation on the relative prices’ structure in Belarus. Volatility of relative prices is a mechanism, determining the negative correlation between inflation and economic growth. Basically, the analysis proves a set of important hypotheses. First, higher inflation is followed by greater dispersion of relative prices. Second, expected inflation is not neutral. Third, price control over certain goods and services (including utilities, electricity and public transport facilities) actually slows the pace of their growth, but at the same time increases volatility of relative prices.
Economic Reform of the Electricity Industries of Central and Eastern Europe [16/06/2001]
Stern, J., Davis, J.
Opening European Electricity and Gas Markets [15/06/2001]
Shuttleworth, G.
In this paper, I take a look at market opening in European electricity and gas markets from an economic point of view, which means from three separate angles. First, I consider whether the move towards competition is being driven simply by the economics of the sector, without the need for specific interventions by governments and regulators. Second, since I will answer this first question in the negative, I will look the measures that governments and regulators need to introduce, if they are serious about introducing competition. Third, I will list some outstanding issues, ie problems that legal and regulatory institutions in European markets have yet to deal with, but which are crucial to achieving the benefits of efficient competition.
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